When To Take The Leap
A tricky part of being an entrepreneur is knowing when to take the leap. By that, we mean knowing when to dive fully into your business and become a full-time entrepreneur. Doing this can be one of the hardest things to commit to. Leaving behind the security of your current career to take a risk on your business is a scary thing to do. We have taken the leap and have learned so many things along the way. Let’s dive into what being a full-time entrepreneur looks like and how to best prepare yourself for when you decide to take the leap:
Set up a system for the transition
Plan out how you want your transition to look. Think about all parts of your life that will change once you take the leap. How many hours will you be putting in weekly? Will the workload be enough that you need to consider bringing on a partner? We recommend setting up deadlines for all parts of your business to keep you on track and organized. If you will be working alongside a business partner, this is also the time to talk about what the communication between the both of you will look like. Will you have weekly calls? How will you address any issues with them?
Have an established savings
It is always a good practice to have a strong savings built up, especially when transitioning from your current career to a full-time entrepreneur. We made sure of this when we took the leap and we are so glad we did. Having that buffer will put your mind at ease when starting out and not make you stress about making sales when you may still be in the late development stages of your business.
Go part-time with your current employer
We were lucky enough to be offered consulting jobs before we went full-time with our business and that made the transition go a lot smoother. If you can put more hours into your business while still having a sense of security working at your current position, then do it!
Staggering taking the leap with your partner
If you have a business partner, consider staggering the time you both take the leap. If one of you needs more time before going full-time, let the other go before you. This will allow one of you to put in more hours into the business while still making sure you both feel financially secure.
If you feel like it’s time to take the leap, it’s probably for a reason
If your business is something you are passionate about, you’ll know when the right time for you to take the leap is. Don’t let any self-doubt creep in and tell you that you aren’t capable of doing it.
Taking the leap is all about trusting your gut and being well prepared to do so. Remember that things don’t always go as planned, but that’s part of it! Stepping fully into your passion is such an exciting thing, don’t let the feeling of being unprepared stop you. If you are thinking about taking the leap, this is your sign! We will be here cheering you on.
Ready to take the leap? Click the button below to fill out our inquiry form and schedule your free discovery call to see how we can help!
